This Day, That Year
China Daily | Updated: 2017-04-13 06:52
Item from April 13, 1998, in China Daily: Government-allocated housing has long served as a key element in China's comprehensive cradle-to-grave welfare system.
In an effort to cultivate residential housing as a new growth area, the central government has decided to end the welfare housing system.
An apartment in Beijing with a floor area of 60 square meters is priced between 300,000 yuan and 420,000 yuan. This is 15 to 21 times the average annual income.
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